HONG
KONG, Aug 1 (Bernama-BUSINESS WIRE)
-- A.M. Best has upgraded the financial strength
rating to A (Excellent) from A- (Excellent) and the issuer credit rating to “a”
from “a-” of Starr Property & Casualty Insurance (China) Company,
Limited (Starr China) (China). The outlook for each rating remains
stable.
The ratings reflect Starr China’s improved risk-adjusted capitalization and operating performance. In addition, Starr China receives business and operational support from Starr International Company, Inc. (SICO) and its insurance subsidiaries, and a capital commitment from Starr Insurance & Reinsurance Limited (SIRL), a company within SICO that is a 20% shareholder of Starr China. Starr China also assumes overseas treaty business ceded from SIRL, which accounted for over 30% of total gross premiums written in 2015.
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